cyber insurance coverage News

Cybersecurity Provider Coronet, Coalition Partner on Small Business Cyber Product

Small business cybersecurity provider Coronet has partnered with Coalition, a cyber insurance provider for small and midsized businesses, to offer cyber insurance to Coronet customers. The partnership combines Coronet’s data breach protection platform with cyber insurance coverage up to $500,000. …

Baltimore to Buy $20M in Cyber Insurance Months After Attack

The city of Baltimore is set to purchase $20 million in cyber insurance coverage, five months after an attack hobbled its computer network. The city’s Board of Estimates on Wednesday approved the purchase of two $10 million policies. The premiums …

Willis Towers Watson Launches Cyber Coverage for Construction Industry

Willis Towers Watson has launched tailored cyber insurance coverage for the construction industry. CyCon was developed in close cooperation with specialty cyber insurance provider NAS Insurance Services and is available nationwide. The coverage includes a blend of first- and third-party …

Chubb Broadens Cyber Enterprise Risk Management Products

Chubb has broadened its enterprise risk management options for Chubb commercial cyber policyholders in the United States and Canada. Two new policy forms, Cyber Enterprise Risk Management (Cyber ERM) and DigiTech Enterprise Risk Management (DigiTech ERM), combine cyber insurance with …

CFC Underwriting Launches Cyber Incident Response App

Specialist lines underwriting agency, CFC Underwriting, has launched a cyber incident response application that will allow policyholders to notify a claim with a click of a button and receive specialist support from CFC’s global cyber incident response team. In addition, …

How Firms Rate on Cyber Readiness and Why Some Don’t Buy Cyber Insurance: Hiscox Report

A study of 3,000 companies in the UK, U.S. and Germany, reveals that more than half (53 percent) of businesses in the three countries are ill-prepared to deal with cyber-attacks. Fewer than one-third (30 percent) qualify as “expert” in overall …

The Right Cyber Coverage Can Protect a Business from Financial Ruin

A recent report on cybersecurity still shows many companies are unprepared for cyberattacks. The report, conducted by KPMG and British Telecom, reveals only 22 percent of companies have a comprehensive plan in place to deal with a major cybersecurity incident. …

New York Proposes ‘Flexible’ Cybersecurity Regulation for Insurers, Banks

The New York State Department of Financial Services (DFS) has proposed cybersecurity regulation for financial services companies that aims to protect New York state’s financial services industry from an increasing risk of cyber attacks, Governor Andrew Cuomo announced. The proposed …

Allianz Launches Cyber Coverage to Address Emerging Risks

Allianz Global Corporate & Specialty (AGCS) has introduced its next generation cyber and professional liability coverage product called ACCEPT Protect designed exclusively for the North American market. The new product offers a streamlined form structure with flexible terms and offers …

Cyber, Property Risks Not Easily Separated: Security Expert

The property/casualty insurance industry must change its approach to cyber security and update its coverage approach to help minimize risks, according to a network security expert. “I don’t think we can easily separate cyber risk and property/casualty risk anymore,” FireEye …